Construction on the Guangdong-Macao Chinese Medicine Industrial Park on Zhuhai’s Hengqin island would begin once the Guangdong-Macao Cooperation Framework Agreement gets the green light from the Central Government. Preparatory works for the park were progressing smoothly and construction would be completed in three years, Government Spokesperson Mr Tam Chong Weng announced today at a press conference. According to Mr Tam, the preparatory office for the park has reached a consensus with the Guangdong provincial government and the administrative committee of Hengqin New Area regarding the project’s financing. Based on the principle of mutual benefit, the industrial park would take the form of a joint venture company between Macao and Guangdong, with Macao holding a majority stake of 51% and Guangdong 49%. Mr Tam said the preparatory office, which was set up earlier and allocated a budget of about MOP14.35 million, had begun hiring staff and purchasing equipment. The office had also commissioned academics to conduct a study on the planning of the industrial park and a report will be submitted in the first half of next year. For its part, the Guangdong government has set up a firm, Zhuhai Dahengqin Investment Ltd., to take charge of the industrial park’s management. The Macao government will also set up a public enterprise later this year for the park’s administration, as the counterpart of the Guangdong company. Mr Tam said the relevant legislation for setting up the public enterprise was being drafted. Meanwhile, the Macao and Guangdong governments will discuss the criteria for investing in the industrial park, which is expected to attract high-technology enterprises with good standing. Ms Chan Keng Hong, Executive Director of the Macao Trade and Investment Promotion Institute, was today appointed Deputy Director of the preparatory office for the industrial park. According to Mr Tam, who is also a director of the preparatory office, Ms Chan’s additional role would not carry any financial benefit. He said he believed her rich experience at institute would help attract more investors to the park. The Guangdong-Macao Chinese Medicine Industrial Park is one of the projects under the Guangdong-Macao Cooperation Framework Agreement, which has allocated an area of five square kilometres on Hengqin island for the joint development of Macao and Guangdong. Covering an area of half a square kilometre, the park will serve as a launching pad for industrial co-operation between Macao and Guangdong. When asked about the Macao government’s spokesperons system, Mr Tam said the government was committed to perfecting the system and would consider holding regular press briefings to satisfy the public’s desire for information.
